The NSW Independent Pricing and Regulatory Tribunal (IPART) has approved applications from five Sydney councils, and partially agreed a sixth, to increase general rates above the 2.7% peg.
Applications from Burwood, Hunters Hill, Ku-ring-gai, Randwick and Sutherland councils were approved in full and will be effective from 1 July 2019.
North Sydney Council’s application was partially approved – rates will rise 22.5% over three years, compared to the 40.3% over five years that the council sought.
If adopted in 2019-20, the increases in the average residential rates across the six NSW metropolitan councils would range from $40 in Ku-ring-gai to $170 in Hunter’s Hill.
“In making these assessments, we have considered whether there is a genuine financial need for additional revenue to allow a council to be financially sustainable, and fund infrastructure projects or asset renewal requirements of their regions,” IPART Chair, Dr Paul Paterson, said.
“We also look at efforts made by the various councils to reduce their costs and identify other sources of revenue, as well as the capacity and willingness of ratepayers to pay the requested increase.”